Electronic Chemicals Market Size Worth $10.749 Bn by 2030: IndustryARC

Electronic Chemicals Market size is predicted to reach $10.75 billion by 2030, growing at a CAGR of 7% during the forecast period 2024-2030 according to the latest market research report published by IndustryARC. Increasing demand of solar photovoltaic cells for electricity generation is fueling the growth of electronic materials & chemicals market. Increasing demand for semiconductor materials from other end-user industries including photolithography printing is expected to grow potentially during the forecast period. On the other hand, increasing demand for electronic chemicals like gaseous chemicals for manufacturing LEDs, solar photovoltaic, semiconductors, and flat panel displays are expected to drive the electronic Chemicals industry growth, finds IndustryARC in its recent report, titled “Electronic Chemicals Market- By Type (Electronic Materials {Metals (Silver, Copper, Aluminum, Steel, Brass, others), Semiconductor Materials (Germanium, Silicon, Cadmium Sulphide, Lead Sulphide, others), Isolators, Magnetic Materials (Silicon-iron, Nickel-iron, Cobalt-iron, others)}, Chemicals (Solid, Liquid, Gaseous)), By Application (Photolithographic Printing, Integrated Circuits, Device Monitoring, Circuit Boards, Device Packaging, Flat Panel Displays (Light Emitting Diode, LCD Screens, others), Solar Photovoltaic Cells, Communication Cables, Printed Circuit Board, and Others), By Geography – Opportunity Analysis & Industry Forecast, 2024-2030”

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APAC to Register Highest Growth

APAC dominated the Electronic Chemicals Market with a largest share of 33% in 2023 due to the several factors.  According to National Investment Promotion and Facilitation Agency (NIPF), India’s share in global electronics manufacturing is anticipated to reach $400 billion by 2025. Increasing consumption for photolithographic printing and use of solar photovoltaic panels has also augmented the growth of electronic Chemicals market. Hence, this expansion is steadily making India as a global hub of electronics system, which fueling the growth of electronic Chemicals market.

Electronic Chemicals Market 2024-2030: Scope of the Report

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Electronic Chemicals Market Report – Key Takeaways:

• Printed circuit boards to Register the Highest Growth

By Application, Printed circuit boards segment is analyzed to grow with the highest CAGR of 7.8% during the forecast period 2024-2030?. The growing uses of electronic Chemicals to manufacturing of semiconductors and printed circuit board fabrication to flat-panel displays, various stages of cleaning, chip packaging and product insulation will increase with the growth in electronics manufacturing. The trend towards miniaturization and the development of more complex and high-performance electronic devices requires advanced printed circuit boards. This drives the need for specialized electronic chemicals that can support the production of high-density, multi-layered, and flexible printed circuit boards. Rapid industrialization and urbanization in emerging economies, particularly in Asia-Pacific, are boosting the electronics manufacturing sector. Countries like China, India, and South Korea are major hubs for electronics production, driving significant demand for printed circuit boards and electronic chemicals in these regions.

• The Electronic Materials is Leading the Market

The electronic materials segment accounted for the largest share in 2023 due to increasing material demand for manufacturing of various electronic products like LCDs, LEDs, solar photovoltaic and rising penetration in semiconductors manufacturing is expected to drive demand for electronic materials over the forecast period. Apart from this, growing demand for electronic chemicals like liquid chemicals for cleaning and polishing the internal parts of the semiconductor devices is expected to be a key driver for electronic Chemicals industry growth. The adoption of emerging technologies like 5G, Internet of Things (IoT), autonomous vehicles, and renewable energy systems necessitates advanced electronic materials. These technologies require sophisticated components that can only be produced with high-quality electronic materials, fueling their market share.

• Increasing Demand for Consumer Electronics is Driving the Growth of the Market

The surging demand for consumer electronics is a significant driver for the electronic chemicals market. Devices such as smartphones, tablets, laptops, wearables, and smart home appliances have become ubiquitous, fueling continuous growth in this sector. As these devices become more sophisticated, the complexity and quantity of electronic components required for their production escalate, driving demand for electronic chemicals. These chemicals, including photoresists, solvents, etchants, and specialty gases, are vital in manufacturing processes such as lithography, etching, and cleaning. The rapid product turnover in consumer electronics, spurred by frequent launches and updates, ensures sustained demand for these chemicals. Additionally, the proliferation of smart devices and IoT further accelerates this trend, as more everyday items integrate sophisticated electronic components. Continuous innovation and expansion in the consumer electronics market thus play a pivotal role in driving the electronic chemicals market forward.

• Raw Material Price Volatility is a major challenge in the Electronic Chemicals market

Raw material price volatility is another major challenge for the electronic chemicals market. The production of electronic chemicals relies heavily on specific raw materials, some of which are subject to significant price fluctuations due to factors such as geopolitical tensions, supply chain disruptions, and changes in demand. For example, the prices of rare earth elements and specialty gases can be highly volatile, affecting the cost structure of chemical manufacturers. This volatility can lead to unpredictability in production costs and pricing strategies, making it difficult for companies to maintain stable profit margins. Moreover, the inability to secure a consistent supply of raw materials at reasonable prices can disrupt production schedules and impact the timely delivery of products to customers. Managing these price fluctuations and ensuring a stable supply chain are critical challenges for sustaining growth and profitability in the electronic chemicals market.

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Key Opportunity Analysis:

Advancements in Quantum Computing

Advancements in quantum computing represent a promising opportunity for the electronic chemicals market. Quantum computers, which leverage the principles of quantum mechanics to perform complex computations, require highly specialized materials and components. The production of quantum chips and circuits necessitates the use of cutting-edge electronic chemicals for processes such as nanofabrication, deposition, and etching. As research and development in quantum computing accelerate, there will be a growing demand for these specialized chemicals. Moreover, the unique requirements of quantum computing, such as extreme precision and stability, will drive innovation in the electronic chemicals sector. Companies that can develop and supply the high-purity and high-performance chemicals needed for quantum computing will be well-positioned to capitalize on this emerging market, which has the potential to revolutionize computing and various related industries.

Growth in Renewable Energy Technologies

The growth in renewable energy technologies offers a significant opportunity for the electronic chemicals market. Renewable energy systems, such as solar panels and wind turbines, rely heavily on advanced electronic components for efficient energy conversion and storage. The production of these components involves the use of various electronic chemicals, including semiconductors, conductive adhesives, and encapsulants. As the global focus on reducing carbon emissions and transitioning to sustainable energy sources intensifies, the demand for renewable energy technologies will rise. This, in turn, will drive the need for high-quality electronic chemicals that enhance the performance and durability of renewable energy systems. Additionally, innovations in energy storage solutions, such as advanced batteries and supercapacitors, will further expand the market for electronic chemicals. The shift towards a greener energy landscape presents a substantial growth opportunity for the electronic chemicals industry.

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The Report also Covers the Following Areas:

• Electronic Chemicals Market Size and Forecast
• Electronic Chemicals Market Trends
• Electronic Chemicals Market Analysis by Type

Electronic Chemicals Market 2024-2030: Key Highlights

• CAGR of the market during the forecast period 2024-2030
• Value Chain analysis of key stake holders
• Detailed analysis of market drivers and opportunities during the forecast period
• Electronic Chemicals Market size estimation and forecast
• Analysis and predictions on end users’ behavior and upcoming trends
• Competitive landscape and Vendor market analysis including offerings, developments, and financials
• Comprehensive analysis of challenges and constraints in the Electronic Chemicals Market

Covid and Ukrainian Crisis Impact:

The COVID-19 pandemic significantly impacted the Electronic Chemicals Market. Initially, supply chain disruptions, factory closures, and logistical challenges led to a slowdown in production and distribution. Many manufacturers faced difficulties in sourcing raw materials and delivering finished products. Moreover, reduced consumer demand and uncertainty in the global economy further dampened market growth. The restrictions on movement and social distancing measures also hindered research and development activities, delaying innovation and product launches. However, the pandemic also spurred innovation and adaptation within the industry. As the world adapted to the new normal, the Electronic Chemicals Market gradually recovered, driven by increased demand for electronic devices and technologies supporting remote work, online education, and digital communication.

The Russia-Ukraine war has significantly disrupted the electronic chemicals market, primarily through the destabilization of global supply chains. Both Russia and Ukraine are critical suppliers of raw materials essential for semiconductor production, such as neon gas, palladium, and other rare earth elements. The conflict has caused substantial supply shortages and increased prices for these materials, exacerbating the global semiconductor shortage. Additionally, the geopolitical instability has led to increased transportation and logistical challenges, further complicating the delivery of essential chemicals and materials. Sanctions imposed on Russia have also restricted trade flows, impacting the availability of key resources and causing price volatility. Consequently, electronic chemical manufacturers have faced production delays, increased costs, and reduced profitability, hindering market growth and innovation within the sector.

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List of Key Market Players in Electronic Chemicals Market:

The Electronic Chemicals Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:

1. Linde Plc.
2. Air Products and Chemicals, Inc.
3. DuPont de Nemours Inc.
4. Entegris Inc. (CMC Materials, Inc.)
5. BASF SE
6. Resonac Corporation
7. Solvay
8. RAG-Stiftung (Evonik Industries AG)
9. Eastman Chemical Company
10. Zhejiang Juhua Co., Ltd (Zhejiang Kaisn Fluorochemical Co. Ltd.)

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Electronic Materials And Chemicals Market size is forecast to reach $10.749 billion by 2030, after growing at a CAGR of 7% during 2024 – 2030.

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IndustryARC primarily focuses on Market Research and Consulting Services specific to Cutting Edge Technologies and Newer Application segments of the market. The company’s Custom Research Services are designed to provide insights into the constant flux in the global demand-supply gap of markets. 

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